Core Viewpoint - FMC Corporation's shares experienced a significant decline of 71.5% in 2025, prompting the CEO to declare a "reset year" for the company, indicating ongoing challenges into 2026 [2][3]. Financial Performance - FMC's revenue, profits, and cash flow decreased throughout 2025 due to high interest rates affecting customer payments in South America and increased pricing pressure from generic competition as some higher-margin chemicals went off-patent [3]. - The company missed revenue expectations in both February and October earnings reports, with a full-year revenue guidance of $4.15 billion to $4.35 billion, falling short of the $4.40 billion analyst consensus [5][8]. - In October, FMC reported a 49% decline in headline revenue due to the sale of its India business, with an adjusted revenue decrease of 10% for the quarter [7]. Strategic Actions - Management announced aggressive pricing actions to counter competition from generic brands, alongside cost-cutting measures and a shift to direct sales to large growers in South America [5]. - FMC's dividend was cut by 86%, reflecting the company's financial struggles and the need for retrenchment [4][8]. Market Position - Following the stock decline, FMC was removed from the S&P 500 index, indicating a shift in market perception and size relative to other companies [6]. - Despite the stock appearing cheap, FMC carries a significant debt load, and a turnaround is not anticipated until 2028 [8].